Top 5 firms' market value declines by Rs. 1.68L crore
Last week, the market value of five leading companies, including HDFC Bank, Reliance Industries, Hindustan Unilever, and State Bank of India, dropped by a staggering Rs. 1.68 lakh crore. HDFC Bank experienced the most significant decline, with its market valuation decreasing by Rs. 1.22 lakh crore to Rs. 11.22 lakh crore. This drop occurred after the bank's December quarter earnings failed to meet market expectations, causing its shares to fall for three consecutive days.
What about SBI and TCS?
The market cap of TCS went down by Rs. 7,720.6 crore to Rs. 14.12 lakh crore. On the other hand, the SBI's valuation plunged Rs. 2,008.04 crore to finish at Rs. 5.64 lakh crore.
LIC surpasses SBI to become most-valued PSU firm
Reliance Industries' valuation dropped by Rs. 18,199.35 crore to Rs. 18.36 lakh crore. Meanwhile, Hindustan Unilever's market value decreased by Rs. 17,845.15 crore to Rs. 5.80 lakh crore. On a brighter note, Life Insurance Corporation of India (LIC) surpassed SBI on Wednesday to become the country's most valued public sector company by market valuation. LIC's market capitalization increased by Rs. 67,456.1 crore, reaching Rs. 5.92 lakh crore.
Here's how Bharti Airtel and Infosys fared
Other top-10 companies that experienced growth in their market valuations include Bharti Airtel and Infosys. Bharti Airtel's valuation rose by Rs. 26,380.94 crore, while Infosys saw an increase of Rs. 15,170.75 crore in its market capitalization. Despite the setbacks faced by some major players in the market, these gains demonstrate that there is still potential for growth and success within the industry.
